When depression economics prevails, the usual rules of economic policy no longer apply: virtue becomes vice, caution is risky and prudence is folly.
Paul KrugmanWhen the Fed decides that inflation is too high, they have the tools, and they've shown historically that they have the will, to bring it down. And, it might be painful.
Paul KrugmanTax cuts were not going to be effective at creating jobs, and the job creation record is lousy.
Paul Krugman